GEC WRITHLON

Thursday, 16 April 2020

ARTICLE COMPETITION Thursday, April 16, 2020

IMPACT OF LOCKDOWN ON INDIAN ECONOMY

INTRODUCTION

Corona virus was firstly founded in Wuhan (china) this virus is come from bats, snakes and other insects. Coronavirus causing illness from respiratory syndrome. this virus in firstly founded in 2019. When it spread vastly in India our hon’ble prime minister took an action to get relief from this disease by the mode Of junta curfew and lock down which cause a bad effect on the economy of India .

PURPOSE

It is unkind reality that we are now a decade old in the liberalized globalization era. The changes in the economy after liberalization and globalization process initiated since 1991 in India have impacted extremely the financial system.

SUBJECT MATTER

According to a survey of BCC news, after lockdown from 24 march till now India’s economy is affected by 7-8 lac crore till now which is a huge deficit in the Indian economy.

This occur due to the shut down of industries hostel and other MNCs these sectors are the main sector through which income is generated. lockdown 1 & lockdown 2 are the great steps which are taken by the respected prime minister to get rid from this virus. but this will impact harshly on Indian economy

THE MAIN SECTOR THROUGH WHICH INCOME IS GENERATED ARE :-

Hotels
Mnc’s
Industries
Railways
Import & export
Public transport etc.

With the shut down of these sectors Indian economy will fall down to 7-8 lac crore till now analytical and industrial bodies said.
The general secretary of all India motor transport congress(AIMTC) Naveen Gupta said that accumulated losses to truckers during the first 15 days of lockdown were about Rs 35,200 crore given an average loss of truck per day is 2200 Rs.
A loss of Rs. 1000 crore is suffered by real estate business in the period of lockdown
The educational sector also suffered a heavy loss with empty campuses face .

IMPACTS:

1)Slowdown in domestic demand. Due to less purchasing power.

2)Less purchasing power of customer due to lack of availability of money.

3)Losses of job due to lockdown situation.

4)Lower demand of commodities like. Oil gas & metals.

5)Fall down in GDP due to shutdown of various sector which generate income.

ACTION TAKEN

Companies should provide work from home.so the work will be done in continuity and there are less chances of losses to the companies
All Indian manufactured products are purchased by people of India. Due to which the GDP is intended to rise and only good quality product are purchased
There is restriction on imports of goods from other countries. Through which a lot of money is kept in India which is being used in another sector for the improvement of product
There should be e-learning courses provided by the education sectors. So that there is continuity in the examination patterns and study is not affected .
More and more Small scale industries are set up .Due to which production is done more and more and there is less need of import of goods from other countries

CONCLUSION

Seeing todays condition we must take precaution directed by the health organisation to get rid of this novel coronavirus. Since it impact harshly on the Indian economy . To grow the economy by taking some corrective action are taken. Since it’s a difficult task but not an impossible task to grow the economy. We must not panic or get frighten when all the citizen united can fight against this situation with ease.

AUTHOR:

KARAN POPLI

(49190333, MBA 2nd SEM)

GEC WRITHLON 54

ARTICLE COMPETITION Thursday, April 16, 2020

IMPACT OF LOCKDOWN ON ECONOMY

To control the spread of corona virus, the government of India decided to make lockdown for the entire nation. Corona virus disease (COVID-19) is an infectious disease caused by a newly discovered corona virus.

The COVID-19 virus spreads primarily through droplets of saliva or discharge from the nose when an infected person coughs or sneezes. At this time, there are no vaccines or treatments for COVID-19. The primary way to keep safe ourselves and the only way of breaking the COVID-19 infection cycle; is to make social distancing. That’s why our prime minister of India Mr. Narendra Modi declared a three week nationwide lockdown from 25 March 2020. The first priority of our nation is to save life of an every single person because “If we have life, we have the world”. There is also a major impact of lockdown directly and indirectly on economy. The Indian economy is expected to lose over Rs. 32,000 crore every day during the 21-day-lockdown. Supply chains of row materials for the infrastructure and for the production of a company have been put under the stress with the lockdown restrictions in place. The live events industry has been an estimated loss of Rs. 3,000 crore. The 75% of India’s workforce is either self-employed or casual workers, they would be the worst affected during this lockdown. Sensex and Nifty market also have a fall down of 35% from January 2020, which is highest downfall in his history. During the lockdown; one of the major effect on the place of visits like; historical places, may be badly affected. Not only in India but also in the global economy, it will likely cost between $1 trillion and $2 trillion in 2020.

IMPACT ON TEXTILE INDUSTRIES:

The economic point of view, a major concern is the future of textile industry. The demand for textile products sales have come down to a grinding halt due to the panic situation created by the COVID-19. Due to the lockdown, all sorts of textile related factories are closed and it is tough to hazard a guess when those will be allowed to open. Workers have been running here and there amid all sorts of confusion. The business community is sacred on account of cash crunch, supply chain disturbance and manpower related issues. India has more than 2,000 spinning mills with different spindle capacity. Workers in big units controlled by corporations reside in labor colonies adjacent to the factory premises. The majority of workers are migrants from Bihar, Uttar Pradesh, Orissa and other states. At present they are being taken cared by the employers. Some workers were force to stay back in the absence of means of transport following the lockdown. Once the lockdown is lifted, there is a possibility that many of them will rush to their hometowns or villages. This will be result direct loss to mill owners. During this lockdown, textile industries stare at Rs. 12,000 crore loss and large amount of worker’s job at risk.

IMPACT ON SHARE MARKET:

The first two rounds of corona virus outbreak have wiped off Rs. 52 lakh crore worth of equity investor wealth, with benchmarks sensex and nifty languishing at multi-year lows after falling 35 % from their January peaks. The next third round of corona virus will be seen a hazardous impact on share market. Although, there will be no real statistics yet, how much negatively growth we see in the future.

https://akm-img-a-in.tosshub.com/sites/btmt/images/stories/Newstaffpics/worst-hit-graphics_130420092033.jpg

IMPACT ON GDP:

The quarterly GDP growth has consistently fallen since Q4 of FY18. If there is a deviation in Q4 of FY19, as shown in the graph below, it is because the National Statistical Office (NSO) revised its data on February 28, 2020, drastically cutting down growth rates in the first three quarters of FY19 (from 8% to 7.1% for Q1; from 7% to 6.2% in Q2 and 6.6% to 5.6% in Q3).

https://akm-img-a-in.tosshub.com/sites/btmt/images/stories/Newstaffpics/growth505_270320074308.jpg

What could be the magnitude of the impact of a complete social and economic shutdown may not be estimated easily, but it is likely to be far more severe than either the 2016 demontisation or the 2017 rollout.

IMPACT ON TOURISM:

India’s tourism sector with the industry estimating an overall loss of Rs. 5 lakh crore and job cuts 4-5 crore people. Sources in the Union Ministry of Tourism said the government is considering helping the sector with soft loans, working capital and deferment on loan repayments. The ministry itself, in a presentation to a parliamentary panel on transport and tourism last month, had pegged the losses at Rs. 5 lakh crore, quoting industry estimates.

Other than the organized sector, the tourism industry also gives employment to small home-stays, bread and breakfasts and small hotel operators and their services will also take a major hit.

There are many more severe impacts on Indian economy which hits during this lockdown, but once we overcome this pandemic situation of COVID-19 our economy will automatically get back on the growth track.

AUTHOR:

Rahul Kumawat

(4919136, B.Tech 2nd semester. )

GEC WRITHLON 9

ARTICLE COMPETITION Thursday, April 16, 2020

Covid19 - A global Pandemic

Introduction

In the beginning of the year 2020 a virus named Covid19(Corona virus) started spreading from China and within few weeks it became a Global Pandemic which is affecting the livelihood of all the people in different countries around the world.Virus spread through physical contact from person to person.As there is currently no medicine around the world which can be used to treat the people infected by Covid19 so in order to reduce the spread of virus many countries had went under lockdown .There are many effects of lockdown in different aspects.

Effects of this lockdown in different aspects in detail is given below:

1. Impact of lockdown on industries/Business:Due to lockdown all the companies and business shut down their operations for a specific period of time to get control over the spread of covid19. This step taken by the government affected the industries as if the industries would not do any operation then there will be huge shortage of revenue and many industries will face difficulties.And the industries also need to give salary to their workers and employees.So it will cause a huge decline in the revenue and profit of industries and many will face shortage of money in doing their operations after lockdown as most of the cash and bank balance in the companies would be used in order to give salary to their employees.So it will effect the industries badly.

2. Education and E-learning:As because of lockdown the schools and colleges around the world were also closed which resulted in effecting the study of students greatly.In order to overcome this problem the way of E-learning is being used by most of the schools and colleges around the world.Through the medium of E-learning the students are given classes online but this is not good for the eyes of the students as by spending too much time in front of mobile phones and L.C.D screen the retina of eyes becomes weak.E-learning is no doubt a better idea for study in current situation but the students should need to do their studies using books and they should need to spend less time online and more in books.They should need to gather the information online and clear their doubts online but they should not need to depend fully on E-learning.

3. Work from home:Many of the industries and companies have given instructions to their employees to do work from home.But it is not easy as it seems to be.The people are also facing challenges in doing work from home.At home the person is not able to fully concentrate on His/her work as their may be many interruptions and also due to lack of productive environment because at home their can be another work which he/she may need to do like some household chores etc.Secondly working from home will also effect the productivity of the company as the work done from home will not be good as the work done in office environment.The person may face loneliness and also lack of people interaction to discuss their work also their can be communication issue and the person would not be able to prioritize his work.So overall the work done by the person from home will not be much effective.

4. Pollution and lockdown: In aspect of pollution the lockdown has a good impact.Due to a heavy decline in use of vehicles, petrol and gases around the world the pollution in air declined sharply the quality of air is becoming good than before and the water pollution is also decreasing due to decline of running boats and ships in the rivers and also due to decline in people in beaches.All the companies and industries are shut down for a specific period so there is not thrown of garbage and chemical waste in rivers which is also beneficial in decreasing water pollution.The air quality index around the world became good and the water of rivers became pure also.The nature is enjoying this situation as the men has badly effected nature.The cutting of trees is also stopped which is also good for our environment.The percentage of carbon monoxide in air noted to be decreased by 50 percent approx.

5. Impact of lockdown on economy:The major effect of lockdown will be on the economy of all the countries around the world.The banks will face most difficulties during this situation.As the people who have taken loans from bank will face difficulty to pay their EMI on time this will result in increase of NPAs (Non perfroming assests) of the bank.The people will also face shortage of money due to lack of work so they will spend money very carefully so many companies will face a decline in their revenue due to lower demand of their products.Only the household item will face a huge demand like breads, cereals, flour, vegetables etc.The companies which have low cash and low bank balance will also face difficulty and after lockdown they might need loan to run their operations. Many of the small cap companies and midcap companies are also under the threat of insolvency because they will face problem in running their operations. Not all the companies will survive this situation. If the situation becomes more bad then many companies will face difficulty to survive. If some of the companies around the world will not survive this situation then their will be huge unemployment’s sales and revenue of public gathering companies like hotels, theaters, airline etc will also decline sharply. The GDP of the countries around the world may also decrease which is not good for the economy of the country. Also due to increase in number of patients and deaths around the world , the company will also face decline in demand of their products. Only the pharma sector companies and FMCG sector companies will see increase in demand of their products. Overall the effect on economy might be very bad and it can also result in financial crisis and recession around the world like before in 2008-2009.

AUTHOR:

Garima Garg

(192892100011, D.Pharmacy 1st sem)

GEC WRITHLON 34

ARTICLE COMPETITION Thursday, April 16, 2020

COVID-19 LOCKDOWN CHALLENGES

Introduction

The outbreak corona no doubts it is a type of disaster and also, we can name it differently.

IMAGE 1: A Photoshop by me on the Earth model trying to show the image face of LOCKDOWN

The coronavirus has disturbed the entire world either they are of developed countries like America, Russia, etc. or developing countries like China, Iran, etc.

We know that “Prevention is better than cure” and in the case of corona till now we haven’t any vaccine to recover any corona patient. But what we have! yes, the only prevention and prevention in the form of LOCKDOWN.

But why are we using the Lockdown option?

According to the researcher and scientists, the coronavirus spreads from one person to another and the fact is that a single person may affect 100 or 1000 peoples. So, the only option we have to control out this outbreak via Social Distancing and the social distancing will come when we will follow the Lockdown. So, our country and the entire world using the lockdown technique as a weapon against corona.

No doubt the lockdown is the best option to control the coronavirus but, in this condition, we are facing many challenges in different fields like:

IMAGE 2: Showing the major challenges facing fields due to COVID-19 & LOCKDOWN

Impact of lockdown on Industries and Business

Due to the lockdown, the growth rate in the field of Industries and Business is continuously decreasing.

Because due to the lockdown every people focus only on the most essential need like food and apart from the food no one gives priority to other things like no one going to the shopping mall on the priority basis, no one buying on the huge amount of cell phones, vehicle, furniture, electronics appliances, clothes, etc. We haven’t gone to anywhere just if we analyse the entire market effect on the 2 days of decreasing sell level on top companies on the date of 19th March and 25th march is shown in the below table:

Must watch the report analysis of CNN News on the impact of lockdown on Industries and Business by clicking below link:

https://youtu.be/HAoS6X9TSc8

(YouTube Video Link)

IMAGE 3: Steep Decline in March Sale due to COVID-19 & LOCKDOWN

Conclusion:

As the conclusion due to the corona outbreak, there is a rapidly decreasing growth rate on the Industries and Business.

Education and E-Learning

By the order of the government of India all the schools, colleges & Universities are totally closed.

Because in these sectors the chances of spreading coronavirus are maximum because in these fields there is highly lack of Social Distancing.

But according to the many Universities like Kurukshetra Universities ordered to all the faculties of concerned branches to provide education via the E-Learning platform.

I am simply giving you the example of my Geeta Engineering College that in my college the faculty members are providing us the online lectures via video Conferencing for this I am including a screenshot of Video Conferencing.

IMAGE 4: Image showing the video conferencing study during COVID-19 & LOCKDOWN

Conclusion

If we talk about the entire education systems of India then all the Vocational education provider colleges and Universities are providing assignments, notes, study material via online mode in this lockdown.

IMAGE 5: Image showing the highly used platform for online study in COVID-19 & LOCKDOWN

Apart from this many students take this lockdown as an opportunity to gain maximum knowledge in their concerned fields. Due to this, online education providers like Udemy, Udacity, Eduonix, SimpliLearn, Microsoft Learn & Alison Learning, etc. had achieved a high growth rate in their business. Because the mindset of maximum students to learn new skills and techniques in this lockdown period. No doubt the online platform can’t give us classes like environment but in this outbreak maximum students accept the learning via online mode. By this, there is high traffic on the websites of online education providers.

Work from home challenge & Prospects

Due to the Lockdown, each organization has only one option to continue with the work from home option. But there is a big difference between the home office and the maintained traditional office. In the work from home environment, there are several issues and challenges to each organization like:

· Loneliness to staff and employee because no person like employee is present with him.

Work distraction because the employee is working from the home and they

· have a lot of distraction due to this. As a short analysis, many employees are not kept focusing on their job while doing work from home.

· In the work from home scenario, many workers and employees have a mindset like they are their own office manager. Because in this lockdown situation there is the unavailability of the higher authority who will time to time monitoring the job of their employee.

Conclusion

As a conclusion in the lockdown time no doubt to run the organization work from home is only one option but in this mode of working there is a big lack in the actual output in the comparison of work an office.

Pollution and Lockdown:

In the topic of pollution, the result of lockdown is very beneficial because in this lockdown period there is highly unavailability of vehicles on the roads and we know that vehicles are the major reasons for the pollution. As a matter of fact, if people will be in the lockdown then no availability of vehicles on the road then it will result in the low pollution record.

IMAGE 7: Satellite map image showing traffic before and during COVID-19 & LOCKDOWN

You can get a full report analysis on the Impact of lockdown on the Pollution in India and worldwide via this YouTube link:

https://youtu.be/-79cLR_AVUc

(YouTube Video Link)

And it is good news that the pollution rate is decreasing day by day in the duration of the lockdown. The main idea behind this revolutionary change is that in this lockdown period all the manufacturing industries are currently stopped, due to this the pollution rate in ppm (parts per mole) of air is continuous decreases, as well as the entire pollution rate of rivers like the Yamuna & Ganga, is also decreased. You can better understand this amazing result by the below picture.

IMAGE 8: Image showing the pollution condition before and after COVID-19 & LOCKDOWN

Conclusion

According to the conclusion the pollution rate and the pollution graph has highly decrement because in this lockdown all the industries and manufacturing organizations are stopped and by this the pollution like dust smoke and wastes of these organizations are currently unavailable from our surrounding and this result into the fact that the lockdown is highly beneficial for controlling the pollution.

Impact of lockdown on the economy

The main tension due to the COVID-19 and Lockdown is the decreasing mode of the Indian Economy. After the lockdown, the entire economy falls day by day and we have to wait for the growth of the economy till the lockdown.

According to the Bajaj Finance report about the Indian economy during lockdown is as:

· Lockdown and COVID-19 have brought the Indian Economic condition to a grinding halt.

· As a result of lockdown, there will be a 250-billion-dollar loss to the Indian economy due to a one-month lockdown.

· There will be some demand revival by July and full recovery by September.

The major impact of the lockdown result on rural unemployment. You can see the current condition of unemployment after the lockdown by the below picture.

IMAGE9: Image showing the unemployment rate after COVID-19 & LOCKDOWN

You can better understand by clicking YouTube link which is the interview of Former Governor of Reserve Bank of India Raghuram Rajan to India Today

https://youtu.be/SqKQWK2YCxU

(YouTube Video Link)

Conclusion:

In conclusion, if we talk about the entire economic condition of India due to the lockdown is totally dull. Because the per capita income is reduced and the Gross Domestic Product (GDP) of entire India is also reduced due to the COVID-19.

The negativity of the COVID-19 & Lockdown

There are many negative aspects of this corona outbreak like due to this disaster the economic condition is totally destroyed. The tourism sector is null in the field of economy. There is no output of the Indian Railway to the Indian Economy during the lockdown because the Indian rail is totally stopped to control the Social Distancing. All the Universities, Colleges and schools are closed by this there is a big lack in the education system. On the date of April 13th approx. 330 peoples died due to this outbreak and approx. 10,900 people are suffering from this corona pandemic.

The subjectivity of the COVID-19 & Lockdown

Yes, each and every factor have positive and negative issues. Some positive results like the decreasing rate in pollution, lower the value of ppm in the air, the condition of purity of rivers water came into the face.

Apart from this in this Lockdown period and to maintain Social distancing all the people are spending their precious time with their families and relatives. In this duration, each family members have a golden chance to understand the emotions and feelings of the other members towards them and vice-versa.

Conclusion

The overall conclusion about this lockdown is that this is the only option to defeat the corona outbreak. But due to maintaining the Social distancing, it results in the low GDP and unemployment in entire India. If we talk about the work from home scenario yes in this condition, we have only one way to continue any organization but for the work from home we are using several online tools like zoom, WebEx, zoolite, etc. these all tools are of china and other foreign countries and a huge amount of users throughout the world are using these tools for the video conferencing and in the webinars, etc. definitely by these tools the foreign countries are gaining profits.

In this crucial time, we have to salute our Doctors, Nurses, Maid, Police and all the peoples who are helping the entire world by serving and helping the needy one via their maximum effort.

Because this is the real humanity and humanity is greater than any religion.

IMAGE 10: Geeta Engineering College helping poor people by providing food facility in this outbreak of COVID-19

So, in the last line, I want to say that definitely human beings are responsible for the corona pandemic and we are facing the situation of lockdown. But this outbreak is also a challenge for the human being now the time has come to accept this challenge and follow the social distancing and lockdown to defeat the coronavirus.

Because together we can defeat this pandemic.

Stay safe & Stay home till the Lockdown.

Author:

VIVEK KUMAR GUPTA

Branch: B.Tech CSE 3rd Year Geeta Engineering College

GEC WRITHLON 49